Dev Nagar, Delhi

dev nagar, new Delhi is a sub-locality of the karol bagh locality in the national capital. the locality is a neighbor to paharganj, patel nagar, chandni chowk, kirti nagar, and central ridge reserve forest. other sub-localities of karol bagh that are neighbors to dev nagar are “ nehru nagar, Than Singh Nagar, karol bagh main market, and baba faridi puri.

key highlights

• sub-locality of karol bagh, one of the most important commercial areas in delhi.

• excellent metro connectivity to other ncr regions via “ karol bagh metro station, patel nagar metro station, rajendra place metro station on the blue line with shastri nagar metro station, and pratap nagar metro stations located on the red line

• plenty of greenery in the area via central ridge reserve forest, dda park, and roshanara gardens adjacent to the locality

• easy access to public transport infrastructure with the karol bagh bus station adjacent to the area, the new delhi railway station located just 8 km away. the indira gandhi international airport is located just 20 km away from the site.

• neighboring the world-famous chandni chowk locality, the most critical market area in delhi, declared asias largest wholesale spice market.

• the famous temple of new delhi, shri laxmi narayan temple (birla mandir), is located close to the locality.

whats great?

• availability of various dining options in the area, especially in the chandni chowk locality near it.

• access to diverse markets due to the region being close to the karol bagh primary market. there is the gaffar market, a primary electronic market in delhi. parathe wali gali, a primary street food market in delhi, is d.b gupta market, a significant market for stationery and general articles. several other essential needs are also present close to the area.

• right road, public transport, education, and health infrastructure are, with all the major centers of basic facilities lying nearby.

whats not great? 

• the property prices for rent and purchase are very high, with some properties reaching upwards of 4 crore for purchase.

• very densely packed area

• frequent traffic jams in the area.

• Watch out for?

• commercial properties near the carol bagh primary market

• property rising factor

• short term

• North Delhi development board had announced the restructuring of the commercial markets of karol bagh and nearby areas in 2013. under this drive, there are plans to build car parking, shopping complexes, and other retail amenities in the area.

• long term

• dev nagar is very close to the new delhi metro station and delhi airport. the area is also well connected by bus routes and metro stations. not to mention the proximity to the busiest and the largest markets in new delhi “ karol bagh and chandni chowk.

other highlights. 

• social infrastructure

there are plenty of social and entertainment facilities in the region. the area contains liberty cinema multiplex. close to the grand gift mall, karol bagh mall, and city mall in the karol bagh.

shopping complex & markets

• karol bagh main market, block 1, wea ,karol bagh

• gaffar market, block 23, karol bagh

• d.b. gupta market, block 56, karol bagh

• health care centers

• dr. nc joshi memorial hospital, joshi path, block 63, karol bagh

•  mcd hospital, block 27f, karol bagh

• harnam singh charitable trust, 5/57 saraswati marg, block 5, karol bagh

• connectivity & public transport

• karol bagh metro station

• karol bagh bus station

• close to the delhi airport and new delhi railway station

• schools, bank & fitness centers

• new bloom school, 16 a/4 wea, karol bagh

•  guru harkrishan public school, hardhayn singh marg, block 13b, karol bagh

• popular landmarks near locality

• central ridge reserve forest

• karol bagh main market

micro market analysis

• capital and rental trends

• the property market in dev nagar mainly consists of builder floor apartments which make about 40%of all the offerings. office spaces and shops constitute the next 30%.the following major property subsection of residential plots contributing to 20% of all the property offers. the remaining 10% offers are from warehouses.

• the remaining apartment layout offered is of 2 bhk apartments, consisting of about 43% of all the apartment offers. at the same time, the following popular designs are of 3 bhk and 5 bhk, both at 20% and 15%, respectively.

• the price range of residential properties is about inr 5,500 to inr 31,200 per sqft, with the lower limit offered for residential apartments and the higher limit shown for residential plots.

• scope of growth

• the property prices in dev nagar are already very high, and as such, any major boom in prices is almost impossible. the properties are expected to appreciate at the slow rate of 0.25%-0.50% per year.

• investment opportunities

• investment in commercial properties near the karol bagh primary market is a sound investment idea.